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Office of Business and Financial ServicesUniversity Accounting and Financial Reporting
Accounting FUNdamentals for Non-Accountants:
What you need to know to do your job
2
Today’s Agenda
History of Governmental Accounting Standards Board (GASB)
15 KEY terms to help you pass
Financial Statement Preparation
FIFO/LIFO Inventory—Income Statement
Amortization schedule
Variance Analysis
6 steps to Certification
3
Information any CPA would know:
Governmental Accounting Standards Board (GASB)
Fund Accounting
Accrual Basis of Accounting
What makes this fun?
This IS Fun!
4
Decode UA and SunGard secrets
Chase the data to your balance
Declassified Information
Sherlock Holmes, Nancy Drew and Scooby Doo
Hidden Agenda
5
Chart
Fund Organization Activity Location
Campus UniquelyIdentifiesFiscalEntity
Budget UnitsDepartments
UserAssignedClassification
Account
AssetsLiabilitiesFund BalanceRevenueExpendituresTransfers
NACUBOFunction& Dept.Activities
Program
PhysicalPlacesand Sites
Required Segments Optional Segments
C-FOAPAL Segments Summary
6
UA and SunGard developed anagram
CHART
FUND
ORGANIZATION
ACCOUNT
PROGRAM
ACTIVITY CODE
LOCATION
Decipher the C-FOAPAL Codes
7
Accounting Equation
Debits “+” / Credits “-”
Operating Ledger
Revenues, Expenses, and Transfers
Encumbrance Reports
General Ledger
Assets, Liabilities, and Fund Balance
Your Balance Coordinates
Talk the Talk
8
9
Accounting Equation
Debits “+” / Credits “-”
Operating Ledger
Revenues, Expenses, and Transfers
Encumbrance Reports
General Ledger
Assets, Liabilities, and Fund Balance
Your Balance Coordinates
Talk the Talk
10
Operating Ledger Transaction Statement Page 1
A
B
1
23
4
11
1
2
3
4
12
C
D
13
A
B
C
Z
14
Z
D
Z
17
Accounting Equation
Debits “+” / Credits “-”
Operating Ledger
Revenues, Expenses, and Transfers
Encumbrance Reports
General Ledger
Assets, Liabilities, and Fund Balance
Your Balance Coordinates
Talk the Talk
18
A
DB+C
Z
19
Accounting Equation
Debits “+” / Credits “-”
Operating Ledger
Revenues, Expenses, and Transfers
Encumbrance Reports
General Ledger
Assets, Liabilities, and Fund Balance
Your Balance Coordinates
Talk the Talk
20
21
22
Policy and Procedures Manual
Allowability and Funding of Certain Expenditures 8.13
Rule Codes/Account Codes list
Training Materials
Banner Short Cut keys
Declassified Information
23
Dr. Robert Langdon, Columbo, Insp. Jacques Clouseau
Who to Ask
UAS@UILLINOIS.EDU
University Accounting ComplianceDirector Glenn Meeks 312-996-4013 meeks1@uillinois.edu
University Accounting Information ManagementDirector Denise Stanley 217-333-0487 dmstanly@uillinois.edu
Help Solve the Mystery
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